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Given below is extract of the Trial Balance as at 31st March, 2020 of Raheem Co: Particulars Debit ($) Salary 6,000 Rent 16,000 Additional Information:
Given below is extract of the Trial Balance as at 31st March, 2020 of Raheem Co: Particulars Debit ($) Salary 6,000 Rent 16,000 Additional Information: i. Salary outstanding amounted to $2,000 ii. Rent Prepaid for the year was $1,000 What amount will appear as Salary expense in the income statement for the year ended 31 st March, 2020? What amount will appear as a Current Asset or Current Liability in respect of Salary Outstanding in the Statement of Financial Position as at 31st March, 2020
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